Speculators are still on the sidelines due to concerns about the risks from the upcoming currency fluctuations…
Robusta London chart July 2022, week 17 (from April 25, 2022 to April 30, 2022)
For the whole week of 17, the London market had 3 decreasing sessions and 2 increasing sessions in a row. The price of Robusta coffee for spot delivery in July fell by all 9 USD, or 0.43 %, to 2,107 USD/ton and for September delivery fell all 11 USD, or 0.52%, to 2,109 USD. /ton, slight reductions. Trading volume below average.
Similarly, the New York market had 3 increasing sessions and 2 decreasing sessions. The price of Arabica coffee for July delivery fell all of 4.75 cents, or 2.09%, to 222.55 cents/lb and for September delivery fell all of 5.05 cents, or 2. 42 %, to 222.10 cents/lb, sharp declines. Trading volume below average.
The price of green coffee beans in the Central Highlands market increased by 200-300 VND, fluctuated in the range of 40,700 – 41,300 VND/kg.
After the completion of the May futures contract and before the first announcement date (FND), the majority of investors in the coffee futures markets stood outside to wait for more news in order to Identify new trends.
The world coffee markets also cannot ignore the selling pressure of this year’s new crop from Brazil and Indonesia, two major Robusta producers that will start appearing in May.
The pressure increases further when the first week of May will have two monetary policy meetings that greatly affect the world coffee prices of the FOMC – US and Copom – Brazil with speculation that it will almost certainly be strong. raised basic interest rates in the Reais and USD as well as cut some economic stimulus measures when global inflation was too high.
The market last week saw Brazilian farmers reduce coffee sales due to the weakening of the Reais rate again and a strong increase in USDX, while the inventory of the crop was also not much because it was strong when the New York futures price increased. in the past time.
The General Statistics Office of Vietnam estimates that coffee exports in April will be about 2,833,333 bags, up 28.60% over the same period last year. As a result, cumulative coffee exports for the first seven months of the current coffee year 2021/2022 will increase by 5.25% year-on-year, to a total of 14,960,410 bags.
At the same time, the General Statistics Office of Vietnam also estimated that coffee export turnover in the first four months of this year totaled US$1.68 billion, up 59.40% over the same period last year. This factor clearly shows that the current price of the coffee futures market has increased compared to last year.
Inventories of Robusta coffee, which are certified and tracked by the London floor, as of Monday, April 25, have decreased by 560 tons, or 0.60 percent less than a week earlier, to registered at 93,140 tons. (equivalent to 1,552,333 bags, 60 kg bags).
Note: Monday, 2nd May, London market is closed for Bank Holiday. The New York market is open late.
English (giacaphe.com)
